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NAV / Daily Prices
NAV ($)
9.48
NAV Change ($)
0.00
Change %
0.00%
MTD Return
0.00%
YTD Return
Statistics
30-Day SEC YieldA
3.53%
30-Day SEC Yield (Unsubsidized)B
3.54%
Average Maturity
2.38 Years
Effective DurationC
2.93 Years
Expenses
Total Fund Operating Expenses
0.69%D
With Expense Cap
0.43%
| Total ReturnsF | Quarter-End (03/31/2026) | Month-End (03/31/2026) |
| YTD | 0.19% | 0.19% |
| 1 Year | 4.12% | 4.12% |
| 3 Years |
The 30-day SEC yield represents the dividends and interest earned for a 30-day period, annualized, and divided by the net asset values per share at the end of the period. The SEC yield is computed under a standardized formula which assumes all portfolio securities are held to maturity. This value may differ from the actual distribution rate of the Fund.
Represents a 30-day SEC yield without adjusting for fee waivers or expense reimbursements.
Effective duration is a measure of the Fund’s price sensitivity to changes in interest rates.
Payden & Rygel ("Payden") has contractually agreed that, for so long as it is the investment adviser to the Fund, Total Annual Fund Operating Expenses After Fee Waiver or Expense Reimbursement will not exceed 0.60%. Please note that the 0.60% expense level does not include Acquired Fund Fees and Expenses, interest, taxes, and extraordinary expenses. Payden has contractually agreed to further waive its investment advisory fee or reimburse Fund expenses to the extent that the Total Annual Fund Operating Expenses After Further One-Year Fee Waiver or Expense Reimbursement exceed 0.43%. This agreement has a one-year term ending February 28, 2027. Please note that the 0.43% expense level does not include Acquired Fund Fees and Expenses, interest, taxes, and extraordinary expenses.
Quoted performance data represent past performance, which does not guarantee future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their original cost. For the most recent month-end performance, which may be higher or lower than that quoted, select this link or call 800 572-9336.
| 3.97% |
| 3.97% |
| 5 Years | 1.34% | 1.34% |
| 10 Years | 1.59% | 1.59% |
| Since Inception | 3.49% | 3.49% |
| Returns less than one year are not annualized. All returns are net of fees. |
DividendsG
Dividend
None
Dividend Reinvest NAV
None
Record Date
N/A
Ex Date
N/A
Payable Date
N/A
Dividends Paid
Monthly, with Daily Accural
Capital GainsG
Short Term
None
Long Term
None
Reinvest NAV
None
Record Date
N/A
Ex Date
N/A
Payable Date
N/A
Investor Class - Regular Account
$5,000
Investor Class - IRA Account
$2,000
Additional Investment - All Classes
$250
Fund Inception Date
01/03/1995
Share Class Inception Date
01/03/1995
Share Class
Investor Class
Ticker
PYUSX
CUSIP
704329796
Fund Total Net Assets
As of 03/31/2026
$57.6 Million
Sales Charge
None
Benchmark
ICE BofA 1-5 Year U.S. Treasury Index
Short-Term Government Bond – Appropriate for investors who seek exposure to short-term securities issued by the U.S. government and its agencies.
The Payden U.S. Government Fund seeks to provide income while avoiding the volatility of longer-maturity bond funds and the credit risk involved in non-government issuers. The Fund is comprised of U.S. Treasuries, government agency debentures, and agency mortgage-backed securities. The average portfolio maturity is less than five years.
No corporate credit risk.
The average maturity ranges between 3-5 years. Shorter average maturities generally provide less price sensitivity to changes in rates.
Ideal for investors with a short-to-intermediate time horizon who seek the safety of government securities.
Data as of 03/31/2026
Data as of 03/31/2026
The U.S. bond market experienced significant volatility and a sharp rise in yields as investors reacted to the escalating war in the Middle East. Oil prices surged from under $70 to over $115 per barrel, with the associated inflationary consequences prompting a repricing of global interest rate expectations over the next 12-18 months.
U.S Treasury yields rose 30-40 basis points (bps) across maturities of two years and longer, briefly reaching close to 50 bps higher at the peaks. However, yields failed to hold their peak levels, despite 2- and 3-year U.S. Treasuries breaching 4.0%, as the potential end to hostilities replaced inflation fears with a slowing growth outlook and renewed thoughts of eventual rate cuts.
The Federal Reserve met mid-month and kept the federal funds rate unchanged at 3.50%-3.75% amid uncertainty over how the energy supply shock could affect inflation and economic growth.
Agency mortgage-backed securities (MBS) struggled to keep up with U.S. Treasuries this month due to the increase in volatility. However, agency MBS modestly outperformed over the quarter as investors tapered their risk exposure and sought the safety of high-quality government-backed securities.
Our portfolio management approach during this volatile period has been to stay the course.
We are maintaining longer duration positions relative to their respective benchmarks. We also remain committed to an overweight position in agency MBS supported by tailwinds from a risk-off environment and increased investor demand.
While we have consistently viewed inflation as less of a concern than softening labor markets, we remain cautious, as a prolonged energy supply shock stemming from the ongoing conflict in the Middle East could disrupt this outlook.
Returns less than one year are not annualized.
Mutual funds are required by the IRS to distribute substantially all realized profits they earn to shareholders on at least an annual basis. If a fund has net gains from the sale of securities, or if it earns dividends or interest from securities, the fund must distribute those earnings to its shareholders. All distributions are taxable, unless an investor's shares are held in a tax-deferred or tax-exempt account such as an IRA. Payden shareholders have the option to receive their distributions in cash or to automatically reinvest the distribution back into the Fund. This information is not intended to provide tax advice. Please consult a qualified tax professional for advice specific to your circumstances. Dividends shown are historical and not guaranteed. Amounts may vary and do not predict future income.
The minimum initial investment may be modified for certain financial intermediaries that submit trades on behalf of underlying investors. Payden Funds’ distributor may lower or waive the minimum initial investment for certain categories of investors at their discretion.
For more information and to obtain a prospectus or summary prospectus, select this link or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses, and other important information, which is contained in these documents; read the prospectus carefully before investing. The Payden Funds are distributed through Payden & Rygel Distributors, member FINRA.
General Risk Disclosures
Interest Rate Risk: As with most funds that invest in debt securities, the income on and value of your shares in the Fund will fluctuate along with interest rates. When interest rates rise, the market prices of the debt securities the Fund owns usually decline. When interest rates fall, the prices of these securities usually increase.
0.19%
DividendsG
Dividend
None
Dividend Reinvest NAV
None
Record Date
N/A
Ex Date
N/A
Payable Date
N/A
Dividends Paid
Monthly, with Daily Accural
Capital GainsG
Short Term
None
Long Term
None
Reinvest NAV
None
Record Date
N/A
Ex Date
N/A
Payable Date
N/A
704329796
Fund Total Net Assets
As of 03/31/2026
$57.6 Million
Sales Charge
None
Benchmark
ICE BofA 1-5 Year U.S. Treasury Index
Short-Term Government Bond – Appropriate for investors who seek exposure to short-term securities issued by the U.S. government and its agencies.
The Payden U.S. Government Fund seeks to provide income while avoiding the volatility of longer-maturity bond funds and the credit risk involved in non-government issuers. The Fund is comprised of U.S. Treasuries, government agency debentures, and agency mortgage-backed securities. The average portfolio maturity is less than five years.
No corporate credit risk.
The average maturity ranges between 3-5 years. Shorter average maturities generally provide less price sensitivity to changes in rates.
Ideal for investors with a short-to-intermediate time horizon who seek the safety of government securities.
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
| Quarter-End (03/31/2026) | 0.19% | 4.12% | 3.97% | 1.34% | 1.59% | 3.49% |
| Month-End (03/31/2026) | 0.19% | 4.12% | 3.97% | 1.34% | 1.59% | 3.49% |
Investment MinimumH
Investor Class - Regular Account
$5,000
Investor Class - IRA Account
$2,000
Additional Investment - All Classes
$250
Duration
Percent of Portfolio
0-1 yr
-12%
1-3 yrs
82%
3-5 yrs
21%
5-7 yrs
9%
Government Sector
Percent of Portfolio
Treasury
49%
Agency Pass Through
21%
Agency CMBS
15%
Agency ARM
10%
Agency CMO
5%
U.S. Government Obligations
Percent of Portfolio
Treasury
49%
FHLMC
21%
FNMA
21%
GNMA
3%
Other (SBIC, FHLB, SBA)
6%